ENI CEO: Europe well-equipped to handle absence of Russian gas via Ukraine

Europe is well-positioned to manage without Russian gas supplied via transit through Ukraine, according to Claudio Descalzi, the head of Italian energy giant ENI.

According to Report, which cites Interfax, in a recent statement, Descalzi expressed confidence in Europe's ability to navigate the potential absence of this key gas supply route.

"I believe that Europe is in good shape, thanks to the established gas reserves, which exceed 90%, and the availability of supplies from the United States, Qatar, and North Africa," Descalzi remarked. He also noted the significant influx of liquefied natural gas (LNG) from Russia into Europe.

The ENI chief refrained from commenting on the possibility of gas supplies from Azerbaijan to Europe via Ukrainian territory. The current contract for Russian gas transit through Ukraine is set to expire at the end of 2024, and Ukraine has indicated its intention not to renew the agreement.

Kadri Simson, the European Commissioner for Energy, previously stated that Europe does not require Russian gas supplies through Ukraine. However, Ukraine has expressed interest in ensuring that its gas pipeline system does not remain idle. Reports suggest that negotiations are underway regarding the potential supply of gas from Azerbaijan to Europe using Ukraine's gas transportation system.